Dear sir,
on 1/4/2015 in our block the wdv is 6628625/-
but in fire tragedy we have lost one assets this assets wdv was 816244 as on 1/4/2015
however only RS. 250000 received from insurance company, query...1) on which amount dep. will be calculated....2) weather the loss of assets is allowable in profit & loss account,

regard
mukesh rajan

Dear sir,
Plz tell me....1) what condition
Should be fulfill to claim addition
Depreriacition...2) will additional depreciation
Be charged once or every year if every year..3)
Assume A machinery was put to use on
10/12/2015 as per the rule only 10% addtional
Dep. Can be charged in AY 2016-17 and rest
Of 10% in AY 2017-18 if addtional dep. Will
Be charge every year then in AY 2017-18
30% Additional dep. Will be charged..right,

Expecting reply soon..

Thanx & Regard
Mohan singh

how does make HUF?

I have a case where one of my income from other source was doubled by a CA when he submitted the Tax returns for AY2012-13. Now I realized this in 2015 and at that time revision couldn't be submitted.
When I tried to rectify this online under section 154 I got this response from CPC - "rectification cannot be handled by CPC and is being transferred to the Jurisdiction AO" The AO also was not able to rectify this and only gave credit for TDS mismatch. Then I was advised to request for condonation of delay for supplementary claim of refund under section 119(2)(B) to the Principal Commissioner of Income tax. I was called for a hearing at the PRCIT office and he passed the order for providing credit again u/s 154. So it went back in full circle to the AO. Again the AO says he can't rectify the income u/s 154. Its pending in that state. If anybody on this forum has any solution to this please do share.

Dear Members,

I want to know that if a pvt ltd wants to incorporate its wholly owned subsidiary, then what will be treatment of preliminary Expenses? can business loss of WOS can be ksett from income of Holding Company.
Thanking you

If donation are not eligible for 80g deduction than can it be allowable as a normal business expense?

I have received PAN earlier this month. And I have also an Savings Account with LVB and also a Demat Account. Now I would like to know that do I need to file Income Tax return if I do Share Trading? or what is the limit of transactions in this regard. Experts need your advice.

If nri person want to transfer from Nro account to Nre account Rs. 6,50,000 then which part i should fill Part A,B,C,D
or what option i should select (services nature of remittance)

dear all,
religious trust has fd interest of 6,00,000/- further for the every assessment year said fd interest is applied and used for the propose of trust (revenue and capital expenditure). and hence trust has (no/nil) income tax liability for every year. on submission of 15G to bank for Fy 16-17, bank has informed trust, As trust interest income is more than rs. 300000/- bank can not accept 15G . and tds will be deducted.
Further condition for 15G
1. 15G can be filed by (Individual and any other assessee (not being firm and company), so trust can filed 15G if it complied following 2 condition.
2. if total income not exceed exempted limit...
3. and Nil income tax liability on the declared income for the relevant year.

Query

1. What is trust exempted limit in income tax ?
2. if their is no exempted limit in income tax for trust, than can trust filed form 15G for non deduction to the bank....having interest income of rs. 600000/- and nill income tax liability for the relevant year???

I have filed my income tax return for the Asst Year 2015-16 on 29.07.2015 with CPC and CPC has processed the return and issued the intimation on the basis of return. However, later I have found that an income has not been considered in the return due to absence of proper information and now I want to add the said unconsidered income in my return.

Whether I can file a rectification after adding the said unconsidered income?